All 50 States Ranked By Their Economic Performance This Year
You’ll often hear economists talk about the American economy as a whole, looking at growth rates in gross domestic product across every state and territory to determine how the U.S. is doing. However, that approach can overlook crucial differences between individual states. After all, just because San Francisco’s burgeoning tech startup scene is driving numbers higher for the country doesn’t mean that laid-off auto and steelworkers in the Midwest are sharing in the riches.
That’s why GOBankingRates conducted a study to rank all the states by their economic growth in early 2019, showing which states are driving the current economic boom and which are falling behind. The study takes into account various perspectives on GDP growth and labor force participation, including GDP growth from the last quarter of 2018 to the first quarter of 2019 as well as average month-over-month growth. See which states are bolstering America’s GDP — and which are struggling to find a new path forward in today’s economy.
51. Mississippi
GDP growth from Q4 2018 to Q1 2019: 1.9%
Average month-over-month growth: 1.6%
50. Hawaii
GDP growth from Q4 2018 to Q1 2019: 1.2%
Average month-over-month growth: 1.3%
49. Kentucky
GDP growth from Q4 2018 to Q1 2019: 2.5%
Average month-over-month growth: 1.6%
48. Rhode Island
GDP growth from Q4 2018 to Q1 2019: 2.2%
Average month-over-month growth: 0.4%
47. Alaska
GDP growth from Q4 2018 to Q1 2019: 3.9%
Average month-over-month growth: 1.5%
46. Arkansas
GDP growth from Q4 2018 to Q1 2019: 2.5%
Average month-over-month growth: 1.5%
45. Maryland
GDP growth from Q4 2018 to Q1 2019: 1.8%
Average month-over-month growth: 1.2%
44. District of Columbia
GDP growth from Q4 2018 to Q1 2019: 1.4%
Average month-over-month growth: 2.6%
43. South Carolina
GDP growth from Q4 2018 to Q1 2019: 2.5%
Average month-over-month growth: 2.2%
42. California
GDP growth from Q4 2018 to Q1 2019: 2.7%
Average month-over-month growth: 2.7%
41. Missouri
GDP growth from Q4 2018 to Q1 2019: 2.3%
Average month-over-month growth: 2.7%
40. Maine
GDP growth from Q4 2018 to Q1 2019: 2.6%
Average month-over-month growth: 2.2%
39. Michigan
GDP growth from Q4 2018 to Q1 2019: 2.6%
Average month-over-month growth: 2.8%
38. North Carolina
GDP growth from Q4 2018 to Q1 2019: 2.8%
Average month-over-month growth: 3%
37. Indiana
GDP growth from Q4 2018 to Q1 2019: 2.9%
Average month-over-month growth: 1.9%
36. Oregon
GDP growth from Q4 2018 to Q1 2019: 3.1%
Average month-over-month growth: 2.8%
35. Montana
GDP growth from Q4 2018 to Q1 2019: 3.2%
Average month-over-month growth: 1.7%
34. New Jersey
GDP growth from Q4 2018 to Q1 2019: 1.8%
Average month-over-month growth: 2.3%
33. Georgia
GDP growth from Q4 2018 to Q1 2019: 3.1%
Average month-over-month growth: 3%
32. Connecticut
GDP growth from Q4 2018 to Q1 2019: 2.2%
Average month-over-month growth: 2.2%
31. Louisiana
GDP growth from Q4 2018 to Q1 2019: 3.8%
Average month-over-month growth: 2.1%
30. Alabama
GDP growth from Q4 2018 to Q1 2019: 2.7%
Average month-over-month growth: 2%
29. New York
GDP growth from Q4 2018 to Q1 2019: 3.8%
Average month-over-month growth: 2.4%
28. Illinois
GDP growth from Q4 2018 to Q1 2019: 2.9%
Average month-over-month growth: 2.8%
27. Kansas
GDP growth from Q4 2018 to Q1 2019: 3.1%
Average month-over-month growth: 2.2%
26. Florida
GDP growth from Q4 2018 to Q1 2019: 2.9%
Average month-over-month growth: 3.5%
25. Minnesota
GDP growth from Q4 2018 to Q1 2019: 2.6%
Average month-over-month growth: 2.8%
24. Wyoming
GDP growth from Q4 2018 to Q1 2019: 3.3%
Average month-over-month growth: 1.8%
23. Idaho
GDP growth from Q4 2018 to Q1 2019: 2.7%
Average month-over-month growth: 3.3%
22. Wisconsin
GDP growth from Q4 2018 to Q1 2019: 2.9%
Average month-over-month growth: 2.8%
21. Pennsylvania
GDP growth from Q4 2018 to Q1 2019: 2.9%
Average month-over-month growth: 2.7%
20. Oklahoma
GDP growth from Q4 2018 to Q1 2019: 3.9%
Average month-over-month growth: 3.2%
19. Virginia
GDP growth from Q4 2018 to Q1 2019: 2.7%
Average month-over-month growth: 3%
18. Tennessee
GDP growth from Q4 2018 to Q1 2019: 2.4%
Average month-over-month growth: 3.3%
17. Vermont
GDP growth from Q4 2018 to Q1 2019: 2.5%
Average month-over-month growth: 1.6%
16. Arizona
GDP growth from Q4 2018 to Q1 2019: 3.8%
Average month-over-month growth: 4.5%
15. Nebraska
GDP growth from Q4 2018 to Q1 2019: 3.4%
Average month-over-month growth: 2%
14. New Hampshire
GDP growth from Q4 2018 to Q1 2019: 2.6%
Average month-over-month growth: 2.8%
13. Massachusetts
GDP growth from Q4 2018 to Q1 2019: 2.7%
Average month-over-month growth: 2.6%
12. Ohio
GDP growth from Q4 2018 to Q1 2019: 3.5%
Average month-over-month growth: 2.6%
11. Iowa
GDP growth from Q4 2018 to Q1 2019: 2.3%
Average month-over-month growth: 2.1%
10. New Mexico
GDP growth from Q4 2018 to Q1 2019: 4.6%
Average month-over-month growth: 3.5%
9. Delaware
GDP growth from Q4 2018 to Q1 2019: 3.9%
Average month-over-month growth: 2.5%
8. Washington
GDP growth from Q4 2018 to Q1 2019: 3.1%
Average month-over-month growth: 5.2%
7. Nevada
GDP growth from Q4 2018 to Q1 2019: 4%
Average month-over-month growth: 3.7%
6. West Virginia
GDP growth from Q4 2018 to Q1 2019: 5.2%
Average month-over-month growth: 4.2%
5. South Dakota
GDP growth from Q4 2018 to Q1 2019: 3.6%
Average month-over-month growth: 3.4%
4. Colorado
GDP growth from Q4 2018 to Q1 2019: 3.6%
Average month-over-month growth: 3.5%
3. Utah
GDP growth from Q4 2018 to Q1 2019: 4.2%
Average month-over-month growth: 4.1%
2. Texas
GDP growth from Q4 2018 to Q1 2019: 5.1%
Average month-over-month growth: 4.4%
1. North Dakota
GDP growth from Q4 2018 to Q1 2019: 3.9%
Average month-over-month growth: 4.1%
More From GOBankingRates
Methodology: GOBankingRates determined the economic performance of all 50 states by analyzing them along the following criteria: (1) GDP growth from the fourth quarter of 2018 to the first quarter of 2019 (Q1 2019 is the most recent GDP data that the Bureau of Economic Analysis has available; (2) average month-to-month GDP growth from the fourth quarter of 2017 through the first quarter of 2019, sourced from the BEA; (3) monthly labor force participation rate from January to July 2019, which was then averaged for a 2019 figure, sourced from the Bureau of Labor Statistics; (4) month-to-month change in labor force participation rate, which was then averaged for a 2019 average figure, sourced from the BLS; (5) monthly unemployment rate from January to July 2019, which was then averaged for a 2019 figure, sourced from the BLS; (6) month-to-month change in unemployment rate, which was then averaged for a 2019 figure, sourced from the BLS; (7) monthly labor force participation rate from January to December 2018, which was then averaged for a 2018 figure, sourced from the BLS; (8) month-to-month change in labor force participation rate, which was then averaged for a 2018 figure, sourced from the BLS; (9) monthly unemployment rate from January to December 2018, which was then averaged for a 2018 figure, sourced from the BLS; (10) month-to-month change in unemployment rate, which was then averaged for a 2018 figure, sourced from the BLS; (11) change in the average labor force participation rate from 2018 to 2019; and (12) unemployment rate change from 2018-2019. GDP growth was weighted double. All data used to conduct this ranking was compiled and verified on Sept. 6, 2019.
This article originally appeared on GOBankingRates.com: All 50 States Ranked By Their Economic Performance This Year
